Tag: inflation
-
Shoppers are still adjusting to inflation — but holiday spending is expected to be in "full force"
New York CNN Business — Black Friday isn’t what it used to be. But many Americans are still expected to spend on the holiday. Mastercard projects that sales will grow 15% on Black Friday compared with last year. Spending will be driven by shopping in stores, which was more muted last year due to a…
-
The economy may be in better shape than you think — for now
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. New York CNN Business — The housing market is rapidly losing steam. Interest rates continue to rise. The stock market remains volatile. And inflation continues to be a major problem for people trying…
-
Wall Street is bracing for election results — but Thursday's inflation report may be a bigger deal
New York CNN Business — Wall Street is waiting for the results of Tuesday’s midterm election like the rest of the world, but traders say this week’s inflation report may prove to be far more consequential to markets. “Obviously this midterm election — because democracy is on the ballot — is a big deal in…
-
The Fed doubles down on message to markets — aggressive rate hikes aren't going away
New York CNN Business — The US Federal Reserve is delivering a hawkish message to markets: We hear you, we see you, but you can’t stop us — aggressive rate hikes aren’t going away. Wall Street seems to be listening. Markets now see an 86% chance of a three-quarter point hike at the September Fed…
-
$4 gas could be coming — again
New York CNN Business — Here’s the bad news first: Gas prices are on the rise in most of the US and could soon hit a national average of $4 a gallon for the first time in two months. But the good news is prices might not stay there long, as they’re already falling in…
-
Here's why 75% of likely voters think we are in a recession — even though we're probably not
New York CNN Business — A new CNN poll shows that three-quarters of likely voters feel like the US economy is in a recession. It’s probably not, but that’s not the point. The technical definition of a recession is two consecutive quarters of economic contraction, which the US economy recorded in the first half of…
-
Food prices are still surging — here's what's getting more expensive
New York CNN Business — Prices at the grocery store continued to soar last month, adding even more pressure to shoppers’ wallets. The food at home index, a proxy for grocery store prices, increased 0.7% in September from the month prior and a stunning 13% over the last year, according to new government data released…